When Gelsinger, 63, was brought in to run Intel three years ago, he was hailed as a saviour of the chip pioneer. The executive began working at the company when he was a teenager but left in 2009 and became CEO of VMware Inc. Upon returning to Intel, he vowed to restore the chipmaker’s technological edge — something it had lost to rivals like Taiwan Semiconductor Manufacturing Co.
Intel Corp CEO Pat Gelsinger, who was hired in 2021 to lead an ambitious turnaround of the iconic chipmaker, will leave the job after the comeback sputtered and the company only fell further behind rivals.
Intel CFO David Zinsner and Michelle Johnston Holthaus, who is taking on a new role as CEO of the company’s product group, are serving as interim co-CEOs while the board searches for Gelsinger’s replacement, the company said in a statement. Frank Yeary, independent chair of the board of Intel, will serve as interim executive chair.
